Cipher Mining Inc. (NASDAQ:CIFR) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cipher Mining Inc. (NASDAQ:CIFR) by 86.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,976 shares of the company’s stock after acquiring an additional 18,494 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cipher Mining were worth $155,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CIFR. Millennium Management LLC increased its holdings in Cipher Mining by 122.8% in the 2nd quarter. Millennium Management LLC now owns 5,330,887 shares of the company’s stock worth $22,123,000 after acquiring an additional 2,938,184 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Cipher Mining by 41.5% during the third quarter. Van ECK Associates Corp now owns 3,900,219 shares of the company’s stock worth $15,094,000 after purchasing an additional 1,144,390 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cipher Mining by 71.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,356,044 shares of the company’s stock worth $9,118,000 after purchasing an additional 977,963 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Cipher Mining by 243.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 549,070 shares of the company’s stock worth $2,279,000 after buying an additional 389,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Cipher Mining during the 2nd quarter worth approximately $2,142,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

Insider Transactions at Cipher Mining

In other Cipher Mining news, insider William Iwaschuk sold 150,000 shares of Cipher Mining stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3.94, for a total transaction of $591,000.00. Following the completion of the transaction, the insider now owns 619,148 shares in the company, valued at approximately $2,439,443.12. The trade was a 19.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Patrick Arthur Kelly sold 89,742 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $4.37, for a total transaction of $392,172.54. Following the completion of the sale, the chief operating officer now owns 717,431 shares in the company, valued at $3,135,173.47. This represents a 11.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,593,503 shares of company stock valued at $9,568,005 in the last quarter. 2.25% of the stock is currently owned by corporate insiders.

Cipher Mining Price Performance

Shares of NASDAQ:CIFR opened at $6.38 on Tuesday. Cipher Mining Inc. has a 52 week low of $2.15 and a 52 week high of $7.99. The company has a 50-day moving average price of $5.64 and a 200 day moving average price of $4.73. The company has a market cap of $2.22 billion, a P/E ratio of -49.07 and a beta of 2.29. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.01.

Cipher Mining (NASDAQ:CIFR) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). Cipher Mining had a negative net margin of 33.39% and a negative return on equity of 8.29%. The company had revenue of $24.10 million during the quarter, compared to analysts’ expectations of $25.84 million. During the same quarter in the prior year, the business earned ($0.07) EPS. Research analysts predict that Cipher Mining Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIFR has been the topic of a number of research reports. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price objective on shares of Cipher Mining in a report on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Cipher Mining in a research report on Friday, November 1st. Macquarie increased their price objective on shares of Cipher Mining from $6.00 to $7.25 and gave the company an “outperform” rating in a report on Thursday, November 7th. Northland Securities boosted their target price on Cipher Mining from $6.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Compass Point increased their price target on Cipher Mining from $7.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cipher Mining has a consensus rating of “Buy” and a consensus price target of $8.03.

About Cipher Mining

Cipher Mining Inc, together with its subsidiaries, engages in the development and operation of industrial scale bitcoin mining data centers in the United States. The company was incorporated in 2020 and is based in New York, New York. Cipher Mining Inc operates as a subsidiary of Bitfury Holding B.V.